XRP is nearing a key technical level after months of selling pressure.
Hopes are rising that it will finally break above a downward trendline that has acted as resistance for the past year.
A three-day TradingView chart shows XRP trading at a bottom, testing a resistance line that has held it back since mid-2025. A breakout above this formation would shift the market structure into a new uptrend. However, another rejection could send XRP price to lower levels last seen in 2024.
XRP Holds Key Support
The chart shows XRP trading just above a major support zone between $1.03 and $1.05. Buyers have defended this area three times since May, preventing XRP from breaking below it.
For context, the major market drawdown from late May into early June saw XRP fall to $1.0547 without breaching the $1.00 mark. It soon recovered to $1.289 in mid-June. However, bearish momentum returned, causing XRP to fall to $1.0098, its lowest price since November 2024.
Bulls stepped in to defend the $1.00 level once again, helping XRP recover to $1.181 shortly afterward. Since then, it has remained around the $1.10 range. Meanwhile, three days ago, XRP dipped again to $1.0459 on July 28, with bulls stepping in once more to defend support.
That repeated defense has given bulls a foundation from which to challenge the descending resistance. However, the long-term trend remains bearish until XRP posts a convincing close above the falling trendline.
Where it Sits Now
According to present data, XRP was trading at $1.07 at the time of writing. The token was down 0.3% over the past 24 hours and 4% over the past seven days.
Despite the recent pullback, XRP has gained 3.06% over the past month. However, it is still down 41.65% year-to-date, highlighting the decline from last year’s highs.
How Low Could XRP Go if the Breakout Fails?
With XRP trading in a tightening range below the descending trendline, a move above it could strengthen bullish momentum and open the door to higher resistance levels. However, if the breakout fails, XRP could remain trapped in its longer-term downtrend, with the price potentially falling below $1.00.
Technical analyst Casi recently said XRP is following the bearish scenario she previously outlined. She expects a break below $1.00, with downside targets at the 0.786 Fibonacci retracement level equivalent to $0.87.
Other market watchers, including Ali Martinez and ChartNerd, have expressed similar views, calling for XRP to drop to $0.70 before the next major uptrend begins.
Whale Activity
Meanwhile, a recent report by The Crypto Basic found that XRP whale activity on Binance has dropped significantly, with both large inflows and outflows declining. The slowdown suggests that major investors are staying on the sidelines rather than accumulating or selling.
Transactions involving more than 100,000 XRP—especially those exceeding 1 million XRP—have declined significantly. With whales largely inactive, the market is in a “waiting phase,” showing no clear signs of either accumulation or distribution.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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